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Most of the people hate recession. Warren Buffett, one of the wealthiest people in the world by making predictions and putting money behind those predictions, provides a different view on recession:

1. Recessions can't be avoided forever. "It is the nature of capitalism to periodically have recessions. People overshoot."

2. We'll survive current and future recessions just as we've survived past problems. If you look at the last century, we had that Great Depression and World War Two, we had the Cold War, we had the atomic bomb, but the country does well."

3. Recessions will create opportunities. "I made by far the best buys I've ever made in my lifetime in 1974. And that was a time of great pessimism and the oil shock and stagflation and all those sort of things. But stocks were cheap."

Read the details here.

Just a recap, the posts below show when I start to purchase shares during this recession:

1. Reasons to start bargain hunting - 22 Nov 2008
2. Reasons to buy on weakness - 2 Dec 2008
3. Market has ignored tons of bad news - 7 Dec 2008
4. Cash is trash - 23 Dec 2008
5. Belief is forward looking while data releases are past - 16 Jan 2009
6. Buffet's metric says it's time to buy - 6 Feb 2009
7. Stock rally to continue? - 11 Mar 2009

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